US Fiscal Crisis Could Cause Another Recession
ANOTHER FISCAL CRISIS IS LOOMING IN WASHINGTON.
- Newswatch Newsroom
2/27/2013
ANOTHER FISCAL CRISIS IS LOOMING IN WASHINGTON.
THE U-S GOVERNMENT IS FACING AN 85-BILLION DOLLAR BUDGET CUT IMMEDIATELY.
AND UNLESS FEUDING LAWMAKERS CAN STRIKE A DEAL... MAJOR SPENDING CUTS COULD BE TRIGGERED ON FRIDAY.
AN AMERICAN POLICY EXPERT AT QUEEN'S SAYS THAT COULD PLUNGE
BOTH THE AMERICAN AND CANADIAN ECONOMIES INTO RECESSION.
EXPERTS WARN CROSS-BORDER TRAVEL WOULD BE SLOWED, AS U-S BORDER GUARD JOBS ARE SLASHED.
AND THAT GOES THE OTHER WAY --WITH PREDICTIONS OF A DRASTIC REDUCTION OF AMERICAN TOURISTS...
PUTTING STRAIN ON MANY LOCAL
BUSINESSES.
BUT THERE'S STILL TIME FOR COMPROMISE TO AVOID MASSIVE SPENDING CUTS.
BRANDON TOZZO
"NEITHER OF THE PARTIES HAVE AN INCENTIVE TO CAUSE A MASSIVE RECESSION BUT THEY DON'T WANT TO LOOK WEEK TO THEIR BASE. SO THEY'RE GOING TO GO TO THE LAST MINUTE AND THEN THEY'LL PROBABLY PUT SOMETHING THROUGH. A BIT OF CUTS HERE A BIT OF CUTS THERE OR THEY MIGHT KICK THE CAN DOWN THE ROAD. SO WE'LL LIKELY SEE AN AGREEMENT AT THE END OF THIS WEEK, THEY'RE GOING TO MEET ON FRIDAY OR EARLY NEXT WEEK BEFORE THE MASSIVE CUTS OCCUR."